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The Finnish implementation of the Transparency Directive entered into force on February 15 2007. The implementation was carried out by introducing amendments to the provisions of the Finnish Securities Market Act (the SMA) regulating the regular disclosure obligations of issuers of publicly traded securities and the disclosure of major shareholdings in publicly traded companies, as well as by decrees issued by the Ministry of Finance specifying the same. In addition, the scope of the application of the SMA was amended to implement the home member state principle introduced in the Transparency Directive. It is, furthermore, expected that there will be amendments to the regulations and guidelines (standards) issued by the Finnish Financial Supervision Authority.

The use of employee stock option plans (ESOPs) in the Czech Republic as a kind of employee benefit is comparable to other developed countries. However, ESOPs are not specially regulated under Czech law. The Czech Securities Act and the Capital Markets Act must be applied.

In January 2007, the China Banking Regulatory Commission (CBRC) amended and restated its trust regulations and published the Administrative Measures For Trust Companies and the Administrative Measures For Collective Fund Trust Plan Of Trust Companies. While the new regulations retain the key concepts of the previous regulations, the CBRC believes that the new regulations will create a more favorable environment for trust companies to compete with their asset management peers in the banking, securities and insurance industries.

IFLR has long prided itself on fielding the wealth of opinions concerning market practice in international finance. Late last year, it decided to take the temperature of the market comprehensively in a poll of the bankers' counsel at the world's top investment banks. A small committee of counsel was put together in London, which drew up a list of questions the members would like to poll their peers on. The popularity of the idea was evident in the enthusiasm of the committee and the response rate among its peers – 85% of the target audience agreed to take part.

The Asian award winners are now live.

A project's viability may ride upon the structure of commodity swap agreements

Both effective squeeze-outs and even back-door delistings may now be possible

The European awards winners are now live.

The UK has fewer remedies against the abuse of short selling by hedge funds than the US

Barbara Rosenberg and Gabriela Ribeiro Nolasco of Barbosa Müssnich & Aragão outline Brazil's competition rules